Portland Homes under $500,000

Welcome to Portland, Oregon—a vibrant city known for its eclectic culture, stunning natural beauty, and a thriving food scene. Nestled between the majestic Cascade Mountains and the scenic shores of the Willamette River, Portland is a haven for outdoor enthusiasts and urban dwellers alike. Its unique neighborhoods each boast their own charm, from the historic streets of Old Town to the artistic vibes of the Alberta Arts District.

For those looking to call this dynamic city home, you’ll be delighted to discover that Portland offers a variety of homes under $500,000. Whether you're a first-time buyer, a young family, or looking to invest, there are plenty of options to suit your needs. From cozy bungalows in quaint neighborhoods to modern townhomes equipped with contemporary amenities, the real estate market in Portland is diverse and accessible.

Imagine waking up in a charming home just minutes from the city’s renowned parks, such as Forest Park and Washington Park, where you can enjoy hiking trails, beautiful gardens, and panoramic views of the city skyline. With a strong sense of community, Portlanders are known for their friendliness and welcoming spirit, making it easy to feel right at home.

Additionally, the city’s commitment to sustainability and innovation shines through in its local businesses and community initiatives. So whether you’re sipping coffee at a local café, exploring the Saturday Market, or cycling along the riverfront, you’ll find that Portland is not just a place to live—it’s a lifestyle. Discover your dream home in this enchanting city today!

Newest Portland Homes under $500,000

$449,000

1 Beds ⋅ 1 Baths ⋅ 414649593 MLS ⋅ ACTIVE Status

Hello, Hawthorne! This 1924 Portland bungalow sits just one block from the neighborhood's best coffee, shops, and eats, so your weekend plans are basically made. Step inside to a light-filled living room anchored by a classic wood-burning fireplace, just right for cozy evenings. Charming built-ins throughout add that timeless character you can't fake.Freshly painted inside and out, this 1-bed, 1-bath gem pairs vintage personality with a crisp, updated feel. And the big-ticket items? Already done! A French drain and professionally sealed basement by M Leon keep the lower level dry and ready for storage, hobbies, or future plans. A new PEX repipe and a new water line to the street, a new electrical panel, new central AC for those warm summer days, new window coverings, and a newer sewer line mean you can skip the to-do list and go straight to enjoying your new home.Outside, a shared driveway leads to off-street parking plus a detached garage, and the spacious yard gives you room to garden, gather, and grow. Here's the cherry on top: an assumable mortgage at 5.625% for a qualified buyer! A well-loved bungalow in an unbeatable location, ready for its next chapter. Could it be yours? [Home Energy Score = 8. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10242894]

4704 SE MADISON ST, Portland

Courtesy of Windermere Realty Trust

$465,000

3 Beds ⋅ 1 Baths ⋅ 685832717 MLS ⋅ ACTIVE Status

Bring your toys and instruments and fall in love with this classic East Portland ranch. Well maintained home features fresh paint, updated electrical, updated kitchen and bath, updated flooring, newer roof, attached laundry area, PLUS attached sound studio and engineering room! Record your own music, podcasts, or social media content in this sound-reinforced space, with softened corners and vocal "booth" area. OR make it your own home theater! Engineer everything from the separate, windowed room that is ready for your customized soundboard installation (or use them both as a bonus rooms, craft space, a rumpus room, make an ADU... you choose!) Property features fully fenced backyard with low-maintenance gravel covering and French drains, rain barrels, covered patio area and storage shed. Tall trees are maintained and limbed up to keep max airflow around the house. Across the street from Lents Park, a 38 acre urban playground featuring Walker Stadium -- home of the Portland Pickles! The Bangers and Cherry Bombs semi-pro soccer teams play here too. Lents Park also has a bandstand, jogging/walking paths, picnic areas, game and play areas for both adults and kids, a community garden area and off-leash dog park too. Close proximity to restaurants and food carts, health care, Farmer's Market etc, in the heart of Lents at Foster. Plus quick access to I-205. Don't miss this lovely turnkey ranch home!

9136 SE STEELE ST, Portland

Courtesy of Oregon First

$439,900

2 Beds ⋅ 1 Baths ⋅ 787660194 MLS ⋅ ACTIVE Status

History and character. Great light + a walkable location. All the boxes checked.Tucked into the heart of Portland’s historic Alphabet District, this top-floor corner condo has the personality you want in a vintage building, along with the updates and amenities that make everyday life easy. And it has a little Portland film history, too.This 2-bedroom, 1-bath home gets wonderful natural light and retains original details throughout, while offering the modern updates and comfort you want today. High ceilings, bright wood floors, a classic vestibule entry, and a private, south-facing balcony all add to the appeal. The balcony is a great spot for coffee, plants, or some fresh air, with views over the neighborhood and courtyard and a peek of Mt. Hood.The location is hard to beat. Grab dinner, coffee, or groceries without getting in the car, with shops, restaurants, and transit all close by. With a Walk Score of 98 and Bike Score of 98, this is a neighborhood where leaving the car at home is genuinely easy. And when you do need one, the condo comes with your own parking spot.The building has plenty of practical extras: secured gated entry with fob/app access, free resident laundry with new machines, secured bike storage with a maintenance station, and a private storage unit.Pet-friendly, with the rental cap not yet met. The HOA fee is reasonable and includes water, sewer, trash, and laundry.A rare combination of old Portland character, natural light, outdoor space, parking, and a location where you can walk to just about everything.

2127 NW IRVING ST Unit #301, Portland

Courtesy of Portland Proper Real Estate

$349,900

2 Beds ⋅ 2 Baths ⋅ 595843610 MLS ⋅ ACTIVE Status

Nestled in the heart of Brentwood Darlington, I pair detached cottage living and low maintenance ease with a full appliance package in one outstanding Southeast Portland offering. Unlike many other new construction homes, I am not a condo and have no HoA. You own the underlying lot outright and have no additional monthly dues to worry about. Crafted by a local family builder with roots in finish carpentry, I reflect enduring craftsmanship, forward thinking design, and a commitment to strengthening Portland’s neighborhoods. Built better from the finish up. Inside, I offer 978 square feet with 2 bedrooms and 2½ bathrooms across an efficient two level plan. My open main level brings the kitchen, dining, and living spaces together for comfortable daily living and easy entertaining. Solid surface countertops, practical storage, and a peninsula island with eat bar support everything from quick meals to hosting friends. A full appliance package with refrigerator, washer and dryer, along with included window coverings, helps ease the move in process. Mini split heating and cooling on my main level and in each bedroom provides efficient year round comfort throughout every key living space. Upstairs, two bedrooms and two full bathrooms offer privacy and everyday function, while tasteful coffered ceilings add an elevated finish detail. Outside, my patio provides room for dining, planters, morning coffee, or unwinding in the fresh air without taking on extra upkeep. Brentwood Park is just up SE 60th with paved paths, picnic areas, play spaces, sports fields, volleyball, and open green space, while the nearby community garden adds to the rooted neighborhood feel. Woodstock New Seasons, Mt. Scott Community Center, Foster area dining, neighborhood coffee, parks, errands, and bike routes are all within easy reach. Nearby Woodstock shops and restaurants add even more convenience, helping me live larger than my footprint in everyday Southeast Portland style.

7045 SE 60th AVE, Portland

Courtesy of Keller Williams Realty Portland Premiere

$409,500

3 Beds ⋅ 1 Baths ⋅ 796527347 MLS ⋅ ACTIVE Status

Open House Sunday 10/4/26 at 11:30 til 1:00 PMFreshly remodeled 3-bedroom on a quiet corner lot in CentennialTucked at the edge of a dead-end street on a corner lot, this move-in-ready 3-bedroom, 1-bath home pairs a top-to-bottom remodel with one of the quietest settings in the Centennial neighborhood. With little through traffic and open green space behind it, the location feels tucked away while keeping everyday conveniences close.Inside, the work has been done with care. The updated kitchen features quartz counters and stainless appliances, and the bathroom has been updated to match. Hardwood floors have been refinished, and new lighting and hardware run throughout the home, all set off by fresh interior paint. A generous bonus room adds real flexibility, working equally well as a home office, media room, or entertainment space.The big-ticket items are already handled. A new roof and fresh exterior paint mean the home looks sharp from the street, and the mechanicals are just as solid: an upgraded electrical panel, a newer furnace and water heater, and central A/C for year-round comfort. Move in without a project list.Outside, the corner lot offers a great yard with plenty of room to garden, relax, or gather, along with a play structure. The property backs directly to Patrick Lynch Elementary and Verdell Burdine Rutherford Park, putting open green space right behind you, and several other parks are a short distance away.Parking and storage are covered as well. The garage keeps vehicles out of the weather, and a side parking pad with power is ready for your RV.Remodeled, well cared for, and set in a quiet location next to green space, this one is ready for its next owner.

17148 SE MARKET ST, Portland

Courtesy of RMS Investment Real Estate

$324,900

2 Beds ⋅ 2 Baths ⋅ 548784810 MLS ⋅ ACTIVE Status

Welcome to polished new construction in Portland’s Reed neighborhood, where my 88 Bike Score and proximity to Reed College put parks, restaurants, neighborhood essentials and Crystal Springs Rhododendron Garden close at hand. Woodstock, Brooklyn and Westmoreland expand your options for coffee, dining, shopping and recreation while I maintain a quieter residential setting in close in SE Portland. Crafted by a local boutique builder known for elevated interior detailing, I stand apart with illuminated crown molding, architectural built ins, designer accent walls and layered lighting throughout. My open main level connects the kitchen, dining and living spaces for an easy everyday flow. In my kitchen, rich cabinetry, an intricate backsplash, floating shelves and accent lighting create a warm, polished backdrop, while the living area is anchored by a dramatic feature wall with built ins and soft ambient lighting. A guest bathroom continues the distinctive design with moody finishes and elegant tilework. Upstairs, my primary suite and spacious secondary bedroom feature soaring ceilings, oversized windows and perimeter lighting that adds another layer of architectural interest. My thoughtful bedroom separation offers flexibility for guests, shared living, work from home needs or additional privacy. Outside, my private fenced yard and patio create room for morning coffee, gardening, pets or relaxing outdoors. With refined finishes, distinctive details and a location near Reed College and some of Southeast Portland’s favorite neighborhoods, I bring character and convenience together in a brand new home. 100% financing may be available to qualified buyers; ask for details. The list price reflects buyer eligibility for the Portland Housing Bureau System Development Charge exemption program, with owner occupancy as the primary buyer requirement.

5169 SE 28th AVE, Portland

Courtesy of Keller Williams Realty Portland Premiere

$425,000

3 Beds ⋅ 1 Baths ⋅ 576780784 MLS ⋅ ACTIVE Status

Charming SE Portland Bungalow + Private Yard + Workshop. A Great Opportunity in the Vibrant Foster-Powell Neighborhood! This one-level home offers an easy, low-maintenance lifestyle with hardwood floors & a clean, light-filled interior. Freshly painted kitchen cabinetry gives the home a bright, welcoming feel, while vinyl windows & a beautifully updated bathroom with tile floors & walk-in shower add to the move-in-ready appeal. The living room with a big picture window flows naturally into the dining area & kitchen, creating a comfortable, efficient floorplan that makes great use of the space. The flat, fenced yard provides wonderful privacy with room for gardening, pets & entertaining. A major bonus is the 23x12 workshop/studio. A versatile space for hobbies, projects, creative studio, home office or storage. Off-street parking adds to the convenience. Enjoy the vibrant Foster-Powell lifestyle with local favorites including Speedboat Coffee, Bar Carlo & Off The Griddle, plus Kern Park, the newly renovated Mt. Scott Community Center & the eclectic shops & restaurants along Foster & Woodstock. A detached home, private yard & incredible bonus space. An exciting opportunity to own in SE Portland as a first time buyer, downsizer or investor!

3604 SE 64TH AVE, Portland

Courtesy of Keller Williams Realty Professionals

$450,000

2 Beds ⋅ 1 Baths ⋅ 758820981 MLS ⋅ ACTIVE Status

Charming Craftsman cottage combining timeless character with thoughtful modern updates, abundant storage, and plenty of space to enjoy both indoors and out.Beautiful hardwood floors and classic details, including built-ins, crown molding, a mantel, and gas fireplace, highlight the home’s original Craftsman charm. Extensive updates include a new roof in February 2025 and central air conditioning.The beautifully updated kitchen features high-end stainless steel appliances, quartz countertops, and a marble backsplash.Outside, enjoy a fully fenced backyard surrounded by mature pine trees, along with inviting front and back decks perfect for every season. The covered back deck extends the living space outdoors, creating an ideal spot for relaxing, entertaining, or simply enjoying the backyard year-round. [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10134330]

5034 N GIRARD ST, Portland

Courtesy of Cascade Hasson Sotheby's International Realty

$339,900

2 Beds ⋅ 2 Baths ⋅ 451710989 MLS ⋅ ACTIVE Status

Directly across from Peninsula Park, I offer brand new living in one of North Portland’s most recognizable neighborhood settings, with the rose garden, open lawns, playground and walking paths just steps from my front door. Built by a multi year Street of Dreams builder and Builder of the Year award winner by the Home Building Association, I feature two bedrooms, two and a half bathrooms and 903 square feet thoughtfully designed for comfortable everyday living within a new five home N Albina community. My open main level connects the kitchen, dining and living areas, creating an inviting space to cook, gather and unwind. Custom cabinetry, solid surface countertops, stainless steel appliances, an island and practical storage bring function and style to the kitchen, while a convenient half bathroom completes the main level. Just off the living room, my private fenced yard space includes a small patio, giving you a comfortable spot for morning coffee, fresh air, pets or a little outdoor space of your own. A gated entry adds an extra layer of controlled access and peace of mind. Upstairs, both bedrooms feature their own private ensuite bathroom, creating flexibility for shared living, guests, a home office or added privacy. Mini splits provide efficient year round heating and cooling, and a one year builder warranty offers added peace of mind after closing. With a Walk Score of 74 and a Bike Score of 100, my N Albina location makes it easy to enjoy Peninsula Park, explore the restaurants, shops and neighborhood energy along Mississippi and Williams, or use nearby Killingsworth, Interstate and the MAX Yellow Line for groceries, dining, errands and connections around Portland. My list price is subject to buyer eligibility for the Portland Housing Bureau SDC exemption program and buyer must be owner occupied. I also benefit from the HOLTE 10 year property tax abatement, offering significant potential savings for an eligible buyer.

6187 N Albina AVE Unit #2, Portland

Courtesy of Keller Williams Realty Portland Premiere

$465,000

4 Beds ⋅ 2 Baths ⋅ 301162283 MLS ⋅ ACTIVE Status

Classic character meets a fresh, modern remodel in this light-filled 1904 home. Situated on a corner lot, the home offers an inviting, spacious layout with abundant natural light throughout. Extensive updates have already been completed, including a new roof, siding, windows, interior and exterior paint, 200-amp electrical panel, updated electrical and plumbing. Offering modern comfort to a home with more than a century of history. The updated kitchen features new cabinetry, quartz countertops and stainless steel appliances, with an easy flow into the dining and living. Two bedrooms and a beautifully tiled full bath are conveniently located on the main level. The unfinished basement offers plenty of room for storage, a workshop, or the opportunity to create. Outside, the expansive fenced yard provides even more possibilities. With its generous size and corner-lot setting, buyers may want to explore options for creating off-street parking (buyer to do due diligence).Conveniently located with quick access to I-84 and I-205, an easy commute to downtown, and less than 15 minutes to PDX Airport. Thoughtfully updated with vintage charm and substantial improvements, make this the next place you call home! [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10238673]

8413 NE HASSALO ST, Portland

Courtesy of Premiere Property Group, LLC

$495,000

4 Beds ⋅ 2 Baths ⋅ 525441825 MLS ⋅ ACTIVE Status

Like New Clackamas County 4 bedroom 2 1/2 bath air-conditioned home with fenced back yard. New carpets. Awesome kitchen with Quartz counter tops SS appliances opens to great room floor plan. Durable Luxury Vinyl plank floors on main level, with slider to fully fenced back yard. Upstairs features 4 bedrooms & 2 full baths plus washer & dryer. Primary suite with 2 Walkin closets

7118 SE FERN AVE, Portland

Courtesy of PNW Realty Associates LLC

16417 NW CHADWICK WAY Unit #203, Portland

$290,000

2 Beds ⋅ 2 Baths ⋅ 518983699 MLS ⋅ ACTIVE Status

Within the gated community of West Park at Bethany Condo, 16417 NW Chadwick Way, Portland OR 97229 encompasses 920 square feet, built in 2018 and renovated in 2026. In Portland, the home connects to Springville and Westview. The main interior features a fireplace to gather around on cool evenings. The kitchen is equipped with quartz countertops and stainless steel appliances for preparing meals at home. A dedicated laundry room provides utility space, while an attached garage supplies direct parking. Outside, a patio opens to a fenced yard for fresh air and outdoor dining. Enjoy updated condominium living in West Park at Bethany Condo.

16417 NW CHADWICK WAY Unit #203, Portland

Courtesy of Opendoor Brokerage LLC

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The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.